White Star Capital, a multi-stage global technology investment firm, has launched its third flagship fund worth US$360 million.
A press statement noted that the fund exceeded its original target of US$300 million.
It brings White Star Capital’s total funds raised in the last 18 months to more than US$500 million. It now manages US$750 million of assets, including US$50 million from its recently announced Digital Asset Fund and more than US$90 million raised from co-investment vehicles.
White Star Capital plans to deploy initial investments between US$5 million and US$15 million in 15 to 20 startups across North America, Europe and Asia in their Series A-stages and beyond. It seeks to invest in emerging technology companies in the AI, digital health, fintech, foodtech, future of work, industrial technologies, mobility and wellbeing sectors.
The VC firm has already made several investments from the third fund, including Flash Coffee (Singapore) and PopMeals (Malaysia).
The fund also announced that it plans to open a new office in Singapore. As part of this, it has already hired Cristina Ventura as a venture partner to expand its investment efforts in Southeast Asia. Ventura has worked in retail and technology roles for over 20 years, helping brands such as Prada, Gucci, LVMH, and Apple.
“We are looking for Series A and B opportunities in consumer, lifestyle, digital health, gaming and fintech sectors as a priority [in Southeast Asia]. Over the last two years, we have invested in Asia Innovation Group, Flash Coffee as well as PopMeals, and will be announcing two more transactions in the next few weeks completed in the region,” Ventura told e27.
White Star Capital was founded in 2014 by Eric Martineau-Fortin and Jean-Francois Marcoux. A global multi-stage technology investment platform, it invests in exceptional entrepreneurs building international businesses. It has operations in Guernsey, New York, Paris, London, Montreal, Toronto, Singapore, and Hong Kong.
With more than 30 team members in nine locations around the globe, the VC firm supports investors by taking a platform approach. It means providing direct investment through dedicated and specialised funds and offering Limited Partners opportunities to directly co-invest in the firm’s portfolio companies.
To date, the VC firm has invested in more than 55 companies that have gone on to raise over US$2 billion collectively. It also has ten exits and two IPOs to its credit.
Investors in the new fund include Limited Partners from Canada, France, Germany, Guernsey, Japan, Monaco, Poland, South Korea, the UK and the US. They are Andy Tian (Asia Innovations Group), Andrew Graham (Borrowell), Kevin Glynn and David Nolan (Butternut Box), Dr Christopher Oster (Clark), Cherif Habib (Dialogue), and Max-Josef Meier (finn.auto), among others.
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Image Credit: White Star Capital